For customers completing a digital transformation, a consistent goal is to process more with fewer resources. One key area of the business where executives consistently look to reduce costs and increase efficiency is processing Accounts Payable invoices. Challenges processing Accounts Payable can create cash management problems, reduce goodwill with vendors, and even impact sales when invoices to vendors are not paid according to terms.
Oracle has marketed the increased efficiency of utilizing their Intelligent Document Recognition (IDR) process for scanning invoices. While the scanning technology has improved dramatically over the last decade, a more holistic approach is required to drive transformation throughout the process.
In this white paper, we will review the following strategies for how they impact the internal effort, the effort for suppliers, and the overall impact on the Accounts Payable process.
Oracle Cloud Accounts Payable Strategies beyond document scanning:
- Distribution Sets
- Default Coding
- Intelligent Account Combinations
- Defaulting for Invoices
- Alias
- Purchase Order Coding
- Pay on Receipt
- Recurring Invoices
- Multiperiod Accounting
- Lease Management
- Supplier Portal Invoices
- EDI
- Auto Approvals
